👩🏽⚕️ Kate Ryder's Maven Clinic Announces Its Second Act with $90 million in Series E Funding
FemWealth Issue #87
Happy Sunday, FemWealth Friends!
In the Spotlight 👩🏽⚕️
Founded and led by Kate Ryder, Maven Clinic is the largest telehealth network in women’s and family health. With 30+ types of providers across 350 sub-specialties, the New York-based company offers an end-to-end global reproductive health and family care platform that integrates support across the entire family journey - from fertility and family formation through maternity, parenting, pediatrics, and menopause.
“Fertility or menopause or postpartum care or return to work care, there was just nothing there [before]. We’re operating in places where there was nothing, and that’s also part and parcel of why there’s so much growth ahead.” - Kate Ryder, Founder and CEO of Maven Clinic
Maven combines integrated benefit coverage and continuous virtual care delivery and partners with employers and health plans to deliver inclusive family benefit design, promote health equity, reduce costs of care, attract and retain talent, and improve clinical outcomes.
With members across 175 countries, Maven’s tech platform offers 24/7 virtual care, financial reimbursement, peer communities, personalized care plans, content, and concierge support. Its employer-paid benefits suite now covers 15 million people - a 5x increase year on year.
“At Maven, we have reimagined the care model to address the complex needs of women and families in a global system that was not designed for them. Whether it's a pregnant woman faced with access issues in rural America, working parents in India needing financial support and navigation for infertility treatment, a same-sex couple facing bias in the opaque surrogacy industry, or a senior executive unable to get support for menopause, our platform shows up reliably, affordably, and relentlessly focused on patient outcomes.” - Kate Ryder, Founder and CEO of Maven Clinic
What Maven’s investors say:
“Maven’s technology-driven platform is purpose-built to create a personalized care experience for all women and families regardless of geography, income level, or pathway to parenthood, which aligns with our health assurance mission to create a proactive and equitable system of care. Maven has already demonstrated incredible outcomes driving commercial traction and a breadth of coverage that we have not seen in a women's and family care platform.” - Holly Maloney, Managing Director at General Catalyst.
“Regardless of Roe-related regulatory or recessionary reservations, one thing is clear: Women’s health is population health, and companies like Maven have a more important role than ever to play in helping to advance human health and health equity through technology.” - Deena Shakir, Partner at Lux Capital (via TechCrunch)
The company has recently raised a $90 million Series E round led by General Catalyst, with participation from CVS Health Ventures, La Famiglia, and Intermountain Ventures, alongside existing investors Sequoia, Oak HC/FT, Icon Ventures, Dragoneer Investment Group, and Lux Capital. Since its founding in 2014, Maven has raised a total of $300 million. Its valuation has increased from $1 billion (2021) to $1.35 billion.
The new funding will support Maven’s global family benefits growth and the expansion of its Medicaid business. Maven Wallet, a financial wellbeing product for fertility and family building, reproductive health, and new parent benefits, will be further developed.
Read more: Maven’s Second Act
Maven, now valued at $1.35 billion, is answering a countrywide demand: More fertility benefits
FemWealth Springboard 👩🔬
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📣 Shout-out to Purpur App, a female-founded therapy game to help communicate openly about sex and relationships. On the occasion of Female Entrepreneurship Day, Purpur offers all subscribers of the FemWealth newsletter 3 Months of FREE Premium Subscription worth $29,99 to set a date with the person you love, relax, discuss the sex drivers or family planning while playing Purpur and get closer! Download the free app in the App store and follow this special FemWealth link to activate your Premium subscription.
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💊 Pill to prevent pre-eclampsia gets UK fast track for development - Currently, under clinical trial, the treatment could be offered to women who are identified in the early stages of pregnancy to be at a high risk of developing pre-eclampsia.
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“I think what we need at this crucial time is empathy ... We need to think about our world in the sense of taking care of our world. Maybe culturally, historically, they are seen as feminine values.” - Chilean Environment Minister Maisa Rojas.
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What I’m Reflecting On 💭
Nancy Pelosi’s Groundbreaking Tenure Opened Up Doors for Women - Nancy Pelosi, the first female speaker of the US House of Representatives, announced she will not run again for Democratic leadership. During her long political career, she paved the way for a new generation of women politicians.
Elizabeth Holmes sentenced to 11 years in prison for Theranos fraud - Holmes, the former CEO of Theranos, was found guilty on four of 11 counts related to defrauding investors, but she was not found guilty of defrauding patients.
Thank you for reading FemWealth! 🥰 Have a great Sunday and a successful week ahead!
Anamaria
Founder & Writer of FemWealth